Terns Pharmaceuticals (NASDAQ:TERN) Coverage Initiated by Analysts at Oppenheimer

Equities research analysts at Oppenheimer started coverage on shares of Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set an "outperform" rating and a $82.00 price target on the stock.

TERN has been the topic of several other reports. JMP Securities lifted their price target on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a "market outperform" rating in a report on Tuesday, September 10th. BMO Capital Markets restated an "outperform" rating and set a $26.00 target price (up from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $26.92.

Terns Pharmaceuticals Stock Down 0.4 %

Shares of NASDAQ TERN traded down $0.03 during mid-day trading on Thursday, reaching $6.86. 1,247,339 shares of the company were exchanged, compared to its average volume of 1,286,058. The firm has a 50-day moving average of $8.19 and a 200 day moving average of $7.29. Terns Pharmaceuticals has a 1 year low of $3.26 and a 1 year high of $11.40. The stock has a market cap of $482.50 million, a price-to-earnings ratio of -5.20 and a beta of -0.36.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.04. On average, equities analysts forecast that Terns Pharmaceuticals will post -1.31 earnings per share for the current year.

Insider Transactions at Terns Pharmaceuticals

In other news, Director Hongbo Lu bought 476,190 shares of Terns Pharmaceuticals stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average price of $10.50 per share, for a total transaction of $4,999,995.00. Following the purchase, the director now directly owns 476,190 shares of the company's stock, valued at approximately $4,999,995. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Hongbo Lu bought 476,190 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average price of $10.50 per share, for a total transaction of $4,999,995.00. Following the completion of the transaction, the director now directly owns 476,190 shares in the company, valued at approximately $4,999,995. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jill M. Quigley sold 17,235 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.00, for a total transaction of $172,350.00. Following the transaction, the director now directly owns 15,000 shares of the company's stock, valued at $150,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.10% of the company's stock.

Institutional Trading of Terns Pharmaceuticals

Several large investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Terns Pharmaceuticals by 78.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,535 shares of the company's stock valued at $113,000 after acquiring an additional 5,935 shares during the last quarter. E. Ohman J or Asset Management AB purchased a new stake in shares of Terns Pharmaceuticals in the 3rd quarter valued at $515,000. Bleakley Financial Group LLC boosted its holdings in shares of Terns Pharmaceuticals by 26.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company's stock valued at $111,000 after acquiring an additional 2,751 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Terns Pharmaceuticals in the 3rd quarter valued at $48,000. Finally, Creative Planning boosted its holdings in shares of Terns Pharmaceuticals by 27.2% in the 3rd quarter. Creative Planning now owns 25,310 shares of the company's stock valued at $211,000 after acquiring an additional 5,409 shares during the last quarter. 98.26% of the stock is owned by hedge funds and other institutional investors.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops small-molecule product candidates for the treatment of oncology, metabolic dysfunction-associated steatohepatitis (MASH), and obesity. The company develops TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor (TKI) that is in phase 1 clinical trial for chronic myeloid leukemia (CML), a form of cancer that starts in bone marrow.